NuStar Energy L.P. Announces Public Offering of Senior Notes

May 16, 2019 07:26 AM Eastern Daylight Time

SAN ANTONIO--(BUSINESS WIRE)--NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar
Energy L.P. (NYSE: NS) (“NuStar Energy”), announced today that it plans
to conduct an offering of senior notes pursuant to an effective shelf
registration statement previously filed with the Securities and Exchange
Commission (“SEC”). The notes will be fully and unconditionally
guaranteed by NuStar Energy, as parent guarantor, and NuStar Pipeline
Operating Partnership L.P., a wholly owned operating subsidiary of
NuStar Energy, as affiliate guarantor. The net proceeds from the
offering are expected to be used for general partnership purposes,
including the funding of future capital expenditures and to repay
amounts outstanding under NuStar Logistics, L.P.’s revolving credit
agreement.

This news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering may be made only by means of a prospectus and
related prospectus supplement meeting the requirements of Section 10 of
the Securities Act of 1933, as amended.

NuStar Energy, a publicly traded master limited partnership based in San
Antonio, is one of the largest independent liquids terminal and pipeline
operators in the nation. NuStar Energy currently has approximately 9,800
miles of pipeline and 75 terminal and storage facilities that store and
distribute crude oil, refined products and specialty liquids. NuStar
Energy’s combined system has more than 88 million barrels of storage
capacity, and NuStar Energy has operations in the United States, Canada,
Mexico and St. Eustatius in the Caribbean.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking statements regarding future
events, including the size, timing and results of the offering. All
forward-looking statements are based on NuStar Energy’s beliefs as well
as assumptions made by and information currently available to NuStar
Energy. These statements reflect NuStar Energy’s current views with
respect to future events and are subject to various risks, uncertainties
and assumptions. These risks, uncertainties and assumptions are
discussed in NuStar Energy’s 2018 annual report on Form 10-K and
subsequent filings with the SEC. NuStar Energy undertakes no obligation
to update or revise any forward-looking statement except as may be
required by applicable law.